Read Highland Malt: Accounting Policy Choices in Financial.
Read Highland Malt: Accounting Policy Choices in Financial… Read Highland Malt: Accounting Policy Choices in Financial Statements. Prepare balance sheets, income statements, and cash flow statements for the Years 2018 and 2019 only, and then briefly discuss Highland Malt’s financial health and make recommendations for improvements. Note that the main component of this case study is the successful creation of the three financial statements (Balance Sheet, Income Statement, and Cash Flows Statement). The discussion section should be no more than one, single-spaced page, and should be limited to: ? Key assumptions you made ? Financial ratio analyses you performed ? Recommendations you are making to improve the financial health of the company. ? You are required to show your calculations for the following: Cash, Inventory, Retained Earnings, Sales Revenues, COGS, and Operating Expenses. Additionally, you are required to show how you calculated the financial ratios. You may show your calculations in a separate part at the end of your project. This proof is not to be counted as part of the one page discussion requirement.Assumptions When preparing the financial statements, add the following assumptions to your own: 1. Revenue recognition. Treat sales of whisky as revenue (not deferred revenue nor any other liability). 2. Inventory/production costing methods. Inventory production began in 2018, but no sales took place in 2018. Use the first-in, first out method (FIFO) when calculating the Cost of Goods Sold (COGS). Do not include any of the expenses in Exhibit 4 in COGS. 3. Income taxes. On the income statement, ignore taxes. Reflect the bank loan interest for 2018 and 2019. Present EBI (Earnings Before Interest). Then, present net income or net loss. 4. Expense categories. Include all costs listed in Exhibit 4 as fixed costs and as operating expenses that fall under Selling, General and Administrative expenses (SG&A). 5. Bank Loan. Assume the loan was obtained on Jan. 1, 2018 and since the case states it “was extended in 2019,” assume the full amount of the principal will be repaid on January 1, 2020. Accounting Business Financial Accounting ACCOUNTING 100
How it works
- Paste your instructions in the instructions box. You can also attach an instructions file
- Select the writer category, deadline, education level and review the instructions
- Make a payment for the order to be assignment to a writer
- Download the paper after the writer uploads it
Will the writer plagiarize my essay?
You will get a plagiarism-free paper and you can get an originality report upon request.
Is this service safe?
All the personal information is confidential and we have 100% safe payment methods. We also guarantee good grades